Baader Bank Aktiengesellschaft Sells 97,243 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Baader Bank Aktiengesellschaft decreased its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 27.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 254,528 shares of the technology company’s stock after selling 97,243 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Lumen Technologies were worth $1,351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in Lumen Technologies in the second quarter valued at approximately $25,000. Concord Wealth Partners increased its holdings in shares of Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after acquiring an additional 1,992 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in Lumen Technologies in the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Lumen Technologies in the 3rd quarter worth approximately $36,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Lumen Technologies during the third quarter valued at $46,000. Institutional investors own 66.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 target price (up previously from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. TD Cowen dropped their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group lifted their target price on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.66.

Lumen Technologies Stock Down 1.3 %

NYSE:LUMN opened at $5.02 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of -2.31 and a beta of 1.28. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The stock’s 50 day moving average price is $6.08 and its two-hundred day moving average price is $5.87.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The firm’s revenue was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) earnings per share. Equities research analysts expect that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal year.

Lumen Technologies Company Profile

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.